Hot Stocks | Here’s why Laxmi Organics, D-Mart & Welspun Corp can rally 10-17%

A strong positive move witnessed in Tuesday’s session after a small gap-up opening and the index closed the day at 14655 with gains of more than one percent and formed a bullish candle on the daily chart.

The index has shifted its base 14580-14500 zone if it manages to hold above the said level then we may see some more extension in the ongoing move towards 14750 zone, and above that, we may see a fresh breakout which can push the index towards 15,000 mark.

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On an hourly chart, the price has moved above its strong hurdle zone of 195. We can also consider this as a sort of double bottom breakout.

Strong volume has been witnessed in the recent up move along with fresh breakout which hints that the stock is all set to move northwards in the near to short term.

The immediate hurdle on the higher side is placed around 207, and once we cross the above-said levels then a fresh breakout can be seen towards 230-250 odd levels.

The stock has shown a good bounce from its strong demand zone. The stock has formed a morning star candle pattern on the daily chart which stands for a strong bullish reversal.

On the immediate basis, 2900 will act as a stiff hurdle on the higher side, and once we cross above that we may see a strong move which can push prices towards 3100-3200 in the near to short term.

The stock has previously given a breakout from its cup and handles pattern and has recently stock moved after retesting the breakout zone.

Last three candle shows a strong bullish momentum with incremental volume activity which hints that we may see an extension in the current up move towards 160 on immediate basis and 175 on an overall basis.